economy
Out of pocket: SA’s consumer crunch
The party may be almost over for SA consumers before it even properly began, but despite the fuel and food price shocks the picture is not entirely bleak
02 June 2022 - 05:00
SA’s economic recovery from the pandemic was gathering steam in the first quarter of the year, before the war in Ukraine sent food and fuel prices soaring, derailing global growth and setting back SA’s prospects.
These factors, which have reignited inflation and accelerated the pace of the Reserve Bank’s rate-hiking cycle, mean that real consumer spending and retail sales growth in SA will likely slow over the rest of the year...
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